Traders Buy Netflix (NFLX) on Weakness After Insider Selling
Traders purchased shares of Netflix, Inc. (NASDAQ:NFLX) on weakness during trading on Thursday following insider selling activity. $713.82 million flowed into the stock on the tick-up and $646.13 million flowed out of the stock on the tick-down, for a money net flow of $67.69 million into the stock. Of all companies tracked, Netflix had the 29th highest net in-flow for the day. Netflix traded down ($9.78) for the day and closed at $306.70Specifically, insider Jonathan Friedland sold 2,743 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $205.59, for a total value of $563,933.37. Following the transaction, the insider now owns 1,147 shares in the company, valued at $235,811.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory K. Peters sold 9,618 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $325.00, for a total value of $3,125,850.00. The disclosure for this sale can be found here. Insiders sold 455,899 shares of company stock worth $122,643,080 in the last 90 days. 4.90% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on NFLX shares. Goldman Sachs set a $250.00 price objective on Netflix and gave the stock a “buy” rating in a report on Tuesday, November 28th. Loop Capital increased their price objective on Netflix from $237.00 to $241.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Vetr downgraded Netflix from a “strong-buy” rating to a “buy” rating and set a $208.27 price objective on the stock. in a report on Tuesday, December 26th. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $213.00 price objective on the stock in a report on Tuesday, December 19th. Finally, Bank of America increased their price target on Netflix from $225.00 to $199.00 and gave the company a “buy” rating in a report on Friday, December 1st. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Netflix presently has a consensus rating of “Buy” and a consensus target price of $251.28.
The firm has a market capitalization of $137,778.63, a price-to-earnings ratio of 245.27, a PEG ratio of 4.36 and a beta of 0.96. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.40 and a current ratio of 1.40.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Netflix by 4.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 46,013 shares of the Internet television network’s stock valued at $8,833,000 after acquiring an additional 1,801 shares during the period. Certified Advisory Corp bought a new position in shares of Netflix during the fourth quarter valued at $378,000. Wagner Wealth Management LLC bought a new position in shares of Netflix during the fourth quarter valued at $125,000. D.B. Root & Company LLC bought a new position in shares of Netflix during the fourth quarter valued at $994,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of Netflix by 9.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 76,669 shares of the Internet television network’s stock valued at $14,717,000 after acquiring an additional 6,602 shares during the period. 81.60% of the stock is owned by institutional investors.
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Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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